Kirloskar Oil Engines among 5 stocks with RSI trending up
Vedanta is in focus with September 29 in focus.
· Economic Times Markets, ET Stocks
Five Nifty500 stocks showed strengthening RSI momentum on September 29, led by Kirloskar Oil Engines, Cupid, TD Power Systems, Vedanta Power and Kirloskar Brothers, with RSI levels crossing above 50.
Key facts
- Dates in focus
- September 29
The analysis
Against that, the stock is -2.8% on the day at ₹254.15, and has returned -5.8% over three months. It sits 68% below its 52-week high, which means a good deal of bad news was already in the price. The power sector has moved -13.4% over the same period, so Vedanta is running 7.6 points ahead of its peers.
For Vedanta, the question is how much of this is already reflected in the price and how much re-rates the power peer set alongside it.
Market context
- The company directly in focus is VEDL.
- Sector exposure: Power.
In this story
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